Barclays Boosts T. Rowe Price Group (NASDAQ:TROW) Price Target to $115.00

T. Rowe Price Group (NASDAQ:TROW) had its price objective boosted by analysts at Barclays from $110.00 to $115.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “underweight” rating on the asset manager’s stock. Barclays‘s price target suggests a potential downside of 6.53% from the company’s current price.

Several other research analysts also recently issued reports on TROW. TD Cowen cut their price target on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Monday, November 4th. JPMorgan Chase & Co. cut their price objective on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Wells Fargo & Company raised their price target on T. Rowe Price Group from $109.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft increased their price objective on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Finally, Evercore ISI upped their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat.com, T. Rowe Price Group currently has an average rating of “Hold” and a consensus price target of $116.00.

T. Rowe Price Group Stock Down 0.5 %

Shares of TROW opened at $123.03 on Monday. The company has a market capitalization of $27.33 billion, a PE ratio of 13.46, a P/E/G ratio of 1.75 and a beta of 1.42. T. Rowe Price Group has a 52-week low of $97.50 and a 52-week high of $125.81. The company has a 50-day simple moving average of $115.55 and a 200-day simple moving average of $113.11.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, topping the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.17 EPS. On average, research analysts anticipate that T. Rowe Price Group will post 9.39 EPS for the current year.

Insider Buying and Selling at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the transaction, the insider now directly owns 13,939 shares of the company’s stock, valued at $1,459,831.47. The trade was a 3.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Iron Horse Wealth Management LLC boosted its position in T. Rowe Price Group by 90.9% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock worth $25,000 after purchasing an additional 110 shares during the period. Hexagon Capital Partners LLC increased its stake in T. Rowe Price Group by 54.7% during the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock worth $32,000 after buying an additional 104 shares during the period. Family Firm Inc. purchased a new position in T. Rowe Price Group in the 2nd quarter valued at about $36,000. True Wealth Design LLC acquired a new stake in shares of T. Rowe Price Group during the third quarter valued at about $37,000. Finally, Larson Financial Group LLC increased its position in shares of T. Rowe Price Group by 866.7% during the third quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock worth $38,000 after acquiring an additional 312 shares during the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.